Sunday, February 3, 2013

Word of the year

Beyond suggesting that a secretive force of “elites” is responsible for making life here too damn expensive, the pols are promising additional subsidies for more people. From housing to child care to transit, they’re saying that, as mayor, they would make life cheaper for nearly everybody else by taking more money from a few wealthy taxpayers.

In their dreams. If higher taxes and more subsides were the key to affordability, the problem would have been solved long ago.

City tax revenues have nearly doubled, from over $21 billion a year to more than $42 billion, since Bloomberg took office. How much more in taxes and spending do the candidates think it will take to keep their promises of “affordability?” And who is going to pay those taxes?

Trust me — they don’t have a clue, because they’re on a false goose chase. More subsidies for some will chase others out of New York and lead to more poverty for many who stay.

Here’s an offer to the candidates: A Truth in Promises award goes to the first one who plants a money tree and vows to use its fruit to make Gotham more affordable. If the tree fails to bloom with $100 bills by September, the winner agrees to go to Plan B — cutting government spending to a level that New Yorkers can afford.

Pensions passed during the height of the tech bubble in 2000 will continue to haunt NYC and NYS. They projected the impossible, that returns on investment will continue and the bubble will go on forever. It was sheer lunacy.

Neither the Mayor nor the Governor made serious reform efforts to improve health of benefit recipients to reduce the cost of health care. Obesity, diabetes and heart disease are the ball and chain of health care.

There were no reforms to how the city builds infrastructure. Schools, subways, and water treatment systems remain grossly overpriced and behind schedule. Expensive cities we compete with, like London and Tokyo get more done on time and with less money AND using a unionized workforce.

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